If the world supply of diamonds increases, the market price of diamonds decreases, and the consumer surplus derived by diamond consumers increases
a. True
b. False
Indicate whether the statement is true or false
True
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What were the reasons for selecting the U.S. dollar as the currency to which the other 43 countries agreed to peg their currencies as part of the Bretton Woods System?
What will be an ideal response?
The second crisis of economic theory refers to
A. The dominance of Keynesian views in fiscal policy to the exclusion of newer, more enlightened viewpoints. B. The typical fiscal policy trade-off between unemployment and inflation. C. An emphasis on the level of output without concern for the content of output in terms of fiscal policy. D. Our inability to maintain full employment output over any significant period of time.
Pollutants that have a short-term impact and then dissipate are called
a. Stock pollutants b. Flow pollutants c. Cumulative pollutant d. Global pollutants e. Transferable pollutants
The possibility of immiserizing growth can arise when
A. the terms of trade of a small country decline due to changes in the rest of the world. B. the import-competing goods are overproduced in a large country. C. there is a decline in the research and development investments in a large country. D. a large country expands the production of its export-oriented goods.